Gerding Edlen, one of the nation’s top real estate investment and development firms focused on urban infill, office, apartment and mixed-use properties, will develop the 209-unit workforce rental apartment project for Kamehameha Schools as part of developer Stanford Carr’s Keauhou Lane condominium project in Kakaako, the trust and largest private landowner in Hawaii said Friday.

The development, which will be located on the site of a surface parking lot along South Street, adjacent to Carr’s Halekauwila rental project and bounded by Halekauwila and Pohukaina streets, as well as South and Keawe streets, includes a variety of housing options such as rental apartments, lofts, townhomes, a high-rise tower and live-work space and retail shops and a neighborhood grocery store.

Carr would develop the 600 units in the tower, while the Oregon-based developer would develop the workforce rental apartments.

Carr’s portion — 400 for-sale units and 200 rental units — will take up about two acres of “Block A” of Kamehameha Schools’ “Our Kakaako” master plan, which includes 29 acres on nine city blocks, seven residential towers that include 2,750 units and 300,000 square feet of commercial space.

Gerding Edlen’s portion includes 69,387 square feet of property with live-work units, rental apartments and ground floor commercial space.
The six-story building will have a mix of studios, one-bedroom and two-bedroom units, all of which will qualify as reserved rental housing.
The five floors of rental units will sit atop 17,590 square feet of ground floor retail space, 14,290 square feet of ground floor restaurant space and 280 parking stalls, said Kamehameha Schools, which will retain ownership of the land.

Combined, the projects will have about 50,000 square feet of recreational spaces, as well as more than 65,000 square feet of open spaces.

Groundbreaking and construction for the Keauhou Lane project, which may be connected to a Honolulu Authority for Rapid Transportation rail transit station, are targeted to start in mid to late 2014 with an expected completion date of 2016.

To date, Gerding Edlen has managed more than $600 million in equity and developed or re-developed more than $5 billion in real estate value, according to its website.